Why Credit Scores Are Rising Amid National Crisis

first_img Demand Propels Home Prices Upward 2 days ago  Print This Post The Best Markets For Residential Property Investors 2 days ago credit FICO 2020-10-20 Christina Hughes Babb October 20, 2020 1,386 Views in Daily Dose, Featured, Market Studies, News Why Credit Scores Are Rising Amid National Crisis Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Home / Daily Dose / Why Credit Scores Are Rising Amid National Crisis Data Provider Black Knight to Acquire Top of Mind 2 days ago Share Save Tagged with: credit FICOcenter_img The average FICO credit score hit a record high of 711 this past July. This uptick to the score may come as a shock, especially since it has taken place several months “knee deep” amid a global pandemic, FICO representatives told CNBC Make It.Even as tens of millions of American workers are currently unemployed and the majority of the nation is still feeling the pinch of the pandemic—leaving them struggling to pay living expenses and loans each month—the FICO scores went up, and up. But experts have an explanation as to the reasons for the uptick, mainly that the FICO scores don’t shift rapidly, thus aren’t necessarily indicators of the current economic climate.Ethan Dornhelm, the expert in charge of the research and analytic development of FICO scores globally, explained this in a bit more detail: “The FICO score shouldn’t be thought of as a leading indicator or as a predictor of where the economy is headed. In fact, there’s typically a “bit of a lag” between when a major macroeconomic event occurs, such as a recession, and when the average FICO score is going to reflect that.”For instance, when America was hit with the devastating impact of the Great Recession, the average U.S. FICO score did not immediately plummet. Instead, the average FICO score did not drop drastically until the latter part of 2009, which was nearly two years after expert economists officially declared that the recession first began.Also according to Dornhelm, as well as this normal time lapse that is usual with FICO scoring data, experts are pointing to the relief that the federal government and lenders provided at the onset of the COVID-19 pandemic for further reasonings why the lower credit scores were delayed/mitigated.Dornhelm explained: “The degree of coordinated government intervention and stimulus spending is different this time around relative to prior crises.” He then added that various other aid, such as the stimulus payments in the CARES Act, the forbearance programs, and the enhanced unemployment benefits, have also provided a proverbial life raft to borrowers—helping them keep their heads above water during this financially depressed time of struggle. Previous: FHA Announces COVID-19 Forbearance Request Extension Next: Delinquency Rate Doubles Great Recession Peak Andy Beth Miller is an experienced freelance editor and writer. Her main focus is travel writing, and when she is not typing away from her computer at her home in the Hawaiian Islands, she is regularly roaming the world as a digital nomad, and loving every minute of it. She has been published in myriad online and print magazines, is a fan of all things outdoors, and finds life (and all of its business, technological, and cultural facets) fascinating in their constant evolution. She is excited to spectate as the world changes, and have a job that allows her to bring a detailed account of those constant shifts to her readers at home and abroad. Sign up for DS News Daily The Week Ahead: Nearing the Forbearance Exit 2 days ago The Best Markets For Residential Property Investors 2 days ago Demand Propels Home Prices Upward 2 days ago About Author: Andy Beth Miller Data Provider Black Knight to Acquire Top of Mind 2 days ago Subscribe Related Articles Governmental Measures Target Expanded Access to Affordable Housing 2 days agolast_img read more

Fair-skinned people may need extra vitamin D

first_img Share HealthLifestyle Fair-skinned people may need extra vitamin D by: – October 4, 2011 Sharing is caring! Tweet Sharecenter_img 15 Views   no discussions Share Protection against sunburn should remain the priority, says Cancer Research UKFair-skinned people who are prone to sunburn may need to take supplements to ensure they get enough vitamin D, say experts. It appears that those with pale skin, while not deficient, may still be lacking in the essential vitamin that the body makes from sunlight.The Cancer Research UK-funded team say that even with a lot of sun exposure, those with fair skin may not be able to make enough vitamin D.And too much sun causes skin cancer.Clearly, for this reason, increasing sun exposure is not the way to achieve higher vitamin D levels in the fair-skinned population, say the researchers. But taking supplements could be.Their work examined 1,200 people.Of these, 730 were found to have “lower than optimal” vitamin D levels – and many of these were people with very pale, freckled skin.Extra boostSupplements are already recommended for groups at higher risk of deficiency. This includes people with dark skin, such as people of African-Caribbean and South Asian origin, and people who wear full-body coverings, as well as the elderly, young children, pregnant and breastfeeding women and people who avoid the sun. Based on the latest findings, it appears that pale-skinned people should be added to this list.Vitamin D is important for healthy bones and teeth. A level less than 25nmol/L in the blood is a deficiency, but experts increasingly believe that lower than 60nmol/L are suboptimal and can also be damaging to health.Most people get enough vitamin D with short exposures to the sun (10 to 15 minutes a day). A small amount also comes from the diet in foods like oily fish and dairy products.But people with fair skin do not seem to be able to get enough, according to Prof Julia Newton-Bishop and her team at the University of Leeds. Part of the reason might be that people who burn easily are more likely to cover up and avoid the sun. But some fair-skinned individuals also appear to be less able to make and process vitamin D in the body, regardless of how long they sit in the sun for.Prof Newton-Bishop said: “It’s very difficult to give easy advice that everyone can follow. There’s no one-size-fits-all.“However, fair-skinned individuals who burn easily are not able to make enough vitamin D from sunlight and so may need to take vitamin D supplements.”Hazel Nunn, of Cancer Research UK, said: “It is about striking a balance between the benefits and harms of sun exposure. “People with fair skin are at higher risk of developing skin cancer and should take care to avoid over-exposure to the sun’s rays.“If people are concerned about their vitamin D levels, they should see their doctor who may recommend a vitamin D test.”She said it was too soon to start recommending supplements, but said most people could safely take 10 micrograms a day of vitamin D without any side-effects. By Michelle RobertsHealth reporter, BBC Newslast_img read more